AxFlow Holding AB acquires Induchem Group in Ireland
AxFlow Holding AB latest acquisition is the Irish Induchem Group, the specialist provider of fluid handling solutions, which predominately focuses on valves, pipe solutions, mixers, and pneumatics. Headquartered in Cork, the Induchem Group has four sites, located in Ireland and the UK; two service centres and two sales offices. The acquisition will see Induchem continuing to operate as a separate company under its brand.
The Induchem Group started out as a focused distributor of steam traps and pipe support solutions in 1982. It later expanded its product offering and changed focus from distribution to becoming a technical solution provider in its sectors by developing expertise and growing service capabilities. Today, Induchem serves a wide range of market segments with the majority of customers being in pharma, power generation, chemicals, petrochemical, design and engineering.
The Induchem Group divides its business into two main sources of revenue; investment-driven projects (both green and brownfield investments) as well as maintenance repair operations (MRO). Its product offering comprises a wide range of industrial valves, high purity products, lined pipes, valves and accessories, mixer solutions, PD and vacuum pumps, as well as air, compressor and pneumatics. In the aftermarket and MRO, its focus is on high purity, pneumatics, instrumentation, engineered services, process and corrosion resistance.
Announcing the development Ole Weiner, CEO of AxFlow Holding said: “The acquisition is in line with AxFlow Group’s strategy of adding valves to its existing positive displacement pump portfolio with the aim of having the capabilities to build larger systems, to extend the service support and grow its geographical presence in existing markets. Induchem has long-standing relationships with leading international valve and process equipment manufacturers and this will open up future expansion opportunities for other AxFlow distribution companies in Europe.” He continued: “Induchem and the AxFlow Group have several similarities, not least of these being that they are family businesses. Induchem’s owner and Managing Director David Carroll is the second generation in the company and has grown up with the company, whilst AxFlow is part of Axel Johnson Group a 5th generation family business.”
Commenting on the acquisition David Carroll said: “The acquisition provides potential synergies from significant opportunities with our existing supply chain and the introduction of new suppliers and expansion of the fluid handling offering. Induchem’s Irish and UK entity complements AxFlow existing business very well with regards to market industry segments, regional presence, service offering and product offering.”
AxFlow Ireland’s Managing Director Stuart Flood is equally enthusiastic, saying: “This significant development will enable us to offer an unrivaled range of products and services to the marketplace, therefore, adding value and real benefits to our customers”.
For further information, please contact:
Ole Weiner, CEO of AxFlow Holding,+46 (0)8 545 476 72, ole.weiner@axflow.com
Lars Carlson, CFO of AxFlow Holding,+46 (0)702 74 05 35, lars.carlson@axflow.com
David Carroll, Owner and Managing Director of Induchem, +Ireland: +353 (0)87 8155554, UK: +44 (0)7557 800640, dcarroll@induchemgroup.com
